QAV Light Week #41

 Hel­lo QAV Light Brigade

It’s anoth­er Mon­day.

The AORD had a pos­i­tive week, end­ing slight­ly high­er than where it start­ed, but noth­ing to write home about. Still, after the last sev­en months of extreme tur­bu­lence, a non-event­ful week is worth cel­e­brat­ing. 

Let’s have a look at how our port­fo­lios are doing and what we have to buy this week.

PORTFOLIO UPDATES

Last week one of our lis­ten­ers point­ed out that Navex­a’s com­par­i­son against the bench­mark (STW) was out, because they weren’t show­ing us the total return for STW, only the cap­i­tal return. I emailed Navexa and they have fixed it. This is obvi­ous­ly going to make a dif­fer­ence in how we com­pare. Let’s have a look.

22.1 Port­fo­lio 

As of this morn­ing, since incep­tion (18 April 2022, which is also when the mar­ket start­ed to cor­rect), we are down 7.7% vs the bench­mark which is down 1.34% over the same peri­od. So although we’re improv­ing, we’re still behind the bench­mark, which is improv­ing slight­ly faster than we are.

You can see the full chart and trans­ac­tions on the Light home­page.

The best per­form­ers in the last week were:

22.2 Port­fo­lio 

Incep­tion date 08/08/2022. This port­fo­lio had a good week. Last week it was up 1.86% — this week it’s up 10% vs the bench­mark which is up 5%. How­ev­er, I’m not 100% sure that this is right. See below.

Our per­for­mance is most­ly thanks to SKT, which finalised a very gen­er­ous cap­i­tal return of NZ$2.40 per share, which also involves the can­cel­la­tion of one share for every six owned. It halt­ed trad­ing last Thurs­day and resumes tomor­row. I can see Navexa has processed the return of cap­i­tal, but I’m not sure they have reduced our share­hold­ing or if I have to do that man­u­al­ly. I’ll find out from them this week.

Any­way, for what it’s worth, the best per­form­ers in the last week have been:

22.3 Port­fo­lio 

Filled 7/11/2022. Now that we’ve filled it, I’ll start track­ing its per­for­mance from the filled date. We are down 2.5% ver­sus the bench­mark which is up 4.6%.

The best per­form­ers in the last week have been:

The decline in S32 in that table is weird. It’s real­ly only down 1.89%, so I don’t know why the table is show­ing it as 10%. I’ll take it up with Navexa. I do that to sell SLH from this port­fo­lio today, though, as it’s breached its 3PTL. Details below.

BUYS

** Please remem­ber to review our Buy­ing Guide­lines to under­stand which cap bands you should be look­ing at and oth­er impor­tant con­sid­er­a­tions.  

DISCLOSURE 

In the inter­est of full dis­clo­sure, we would like to advise that, as of the date of this email, the QAV team cur­rent­ly hold these stocks in their per­son­al port­fo­lios:

ALO AMP BPT CGF IGL JHG MQG NAB NHC NWH QAN QBE VEA WAM WDS WHC XTE S32 PRU

Please note that our per­son­al hold­ings might not include the stocks we rec­om­mend in QAV Light. This is because we already have full port­fo­lios (15–20 stocks) and can only add new stocks if we have to sell some­thing.

If you’re inter­est­ed in learn­ing more, please review our trad­ing and dis­clo­sure pol­i­cy.

FOR NEW MEMBERS

If you’re new to QAV Light, here’s a quick reminder on how it works.

1. We send you an email every Mon­day advis­ing which stocks we are adding to our Light port­fo­lio.
2. You can copy our trades, but please remem­ber to review our Trad­ing Guide­lines to under­stand which cap you should be look­ing at and oth­er impor­tant con­sid­er­a­tions. And con­sult a finan­cial plan­ner before mak­ing any deci­sions.
3. We don’t rec­om­mend that you add stocks which are already in our port­fo­lio. Their posi­tion on our buy list might have changed since we rec­om­mend­ed them. Just start with the stocks rec­om­mend­ed after you become a mem­ber.
4. If one of the stocks we add breach­es one of our sell con­di­tions, we will sell it from our port­fo­lio and you’ll get an email advis­ing of the trade. Again, you can copy our trades, but seek finan­cial advice before mak­ing any deci­sions. And please check your Rule #1 price (see Trad­ing Guide­lines).

That’s it for today!

If we decide to buy or sell some­thing, we’ll let you know.